Andrews Federal Credit Union was recently recognized by CNBC as one of the top credit union mortgage lenders in the country. Specifically, we were highlighted as the best mortgage lender for first-time homebuyers, based on our plans that provide additional homebuyer grants for people making a first home purchase.
We are honored by this recognition because it shows that our credit union continues to do the right thing for members to help them achieve their financial goals and dreams. Andrews Federal has been able to tout the “lowest mortgage rates in town,” as we have sought to keep affordable lending options on the table for members even in a volatile rate environment.
What Andrews Federal Offers Members Looking for a Home
Members who choose Andrews Federal for their mortgages can benefit from a convenient loan application process and multiple options for grants or assistance to complete the buying process.
For example, Andrews Federal members can benefit from grants for up to $12,500 toward their downpayment or closing costs. Other borrowers who aren’t first-time homebuyers can also access $1,500 for closing costs when they set up direct deposit to make mortgage payments.
In addition, members have access to a wide variety lending options and resources, including lending professionals who will meet with them in the branch, financial education seminars and more.
How CNBC Selected the Top Mortgage Lenders
When choosing the top mortgage lenders, CNBC analysts evaluated a set of criteria including:
- Membership eligibility, with higher score awarded to institutions with large memberships or easier requirements to join
- Credit score, noting whether financial institutions offered additional options to support borrowers with poor credit
- Closing time, with higher scores awarded to institutions with shorter closing times
- Fees, including where fees might be waived or discounts might be applied
- Application process, noting whether financial institutions offered online and physical options for completing applications and receiving mortgage support
- Member service, noting types of customer service available including online chat, a phone center and educational resources
The recognition by CNBC underscores the commitment and focus of Andrews Federal’s mortgage lending team, as they strive to ensure members have access to the best resources for homebuying and to a variety of home loan options (conventional mortgage loans, first time homebuyer loans, FHA and HA loans, home equity loans and more).
Why This Recognition Matters to Us
As a not-for-profit financial institution, Andrews Federal Credit Union prioritizes the well-being of its members, offering personalized mortgage options with low rates and flexible terms.
We know it can be complicated and frustrating to navigate the mortgage process, especially when you are buying a home for the first time.
Alongside our lending products, it’s important to us to ensure members have all the information they need to make the right financial choices for their situation. For example, members can make an appointment with a mortgage lending expert at any of our branch locations.
Before they even reach this point, they can begin educating themselves on the mortgage process, on improving their credit score, and on choosing the right loan for them through our financial webinars. The sessions are offered by Andrews Federal mortgage lending experts, and are free of cost to members and nonmembers alike.
Our mortgage lending options are designed to support members and help them reach their financial goals. We say we are “ready to serve and ready to solve,” and that’s exactly what our credit union does for members who are seeking a home. We appreciate the opportunity to provide our members a first-time homebuyer loan because it’s our hope that they’ll remain with us over the full course of their homeownership journey.
Being recognized by CNBC is an honor but the biggest honor is being chosen by our members. If you are considering buying a home, let us provide you the service and support you need to choose the right mortgage loan, seal the deal and achieve your homeownership goals. Learn more about the mortgage options we offer.